Tuesday’s big movers: Groupon up but mum on Google

Discount retailer stocks under pressure

GregMorcroft

SAN FRANCISCO (MarketWatch) — Shares of J.C. Penney Co., TripAdvisor Inc., and Magellan Health Services Inc. made big moves during U.S. trading Tuesday, while Groupon Inc., Apple Inc. and American International Group Inc. were among top trending tickers.

Top tickers trending

$GRPN: Groupon
GRPN, -1.55%
gets a nice pop even as Chief Executive Andrew Mason declined to address a recent rumor on a possible deal with Google Inc.
GOOG, +0.13%
“We never will comment on unsubstantiated rumors,” said Mason during an appearance at the Mobile-Loco Conference in San Francisco. A Bloomberg report last week said Google may be interested in the online daily deal company given the sharp drop in Groupon’s stock price.

Whatever the truth may be, the general sentiment appears to be that Groupon’s Google ship has sailed for now. Here’s an in-depth look at why Groupon may not be such a good deal. Bloomberg: Buying Groupon hard for anyone

$AAPL: Apple
AAPL, -0.77%
shares recovered, rising about 2%. China Unicom said earlier it received more than 300,000 preorders for iPhone 5, which will launch in China on Friday.

Analysts at J.P. Morgan also raised their projected iPhone activations at AT&T
T, -0.62%
to 8 million units from 7 million for the fourth quarter.

For now, though, the discussion on Twitter is focusing on whether Apple will introduce a new iteration of a traditional gadget — the television.

There is stronger interest in an Apple TV than there was for the iPhone and the iPad, CNET reported, citing an analysis from Morgan Stanley’s Katy Huberty.

Apple

The current Apple TV device

The analyst said that consumers would be willing to pay a 20% premium and that there is twice as much initial interest in a TV from Apple as there was for its other devices, according to CNET. See: People are ready to pay extra for Apple TV

@asyurei3: I love $AAPL I just am concerned that hanging their hat on a new tv isn’t that exciting. So diversify and make a $AAPL toaster too.

And in case people didn’t already know how emotional the investment community can get about Apple, Nigram Arora writes about the correlation between the volume of hate mails he gets and the performance of Apple stock. See: Hate-mail indicator makes another Apple call

$AIG: American International Group
AIG, +0.57%
shares advanced more than 5% after the Treasury Department said late Monday that it plans to offload its remaining 16% stake in AIG. Treasury said it would sell the 234.1 million shares in a public offering. See: AIG: a timeline of important events

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